Online Payday Loans in California for Bad Credit
Residents of California can conveniently get payday loans online right from the comfort of their homes and offices using a computer or just a smartphone. These loans are ideal for those emergency situations like car repairs, medical bills, and unusually high utility bills that are bound to crop up from time to time.
Such online loans come with no hidden fees, no rollovers, lower interest rates, and clear terms and conditions. If you are need of such payday loans and you reside in California, PaydayLoansOnlineSND can make the whole process faster and easier for you.
Why Online Payday Loan is Comfortable
From the application process to repayment, the entire process is straightforward and involves the following:
- You needn’t bother about driving down to the lenders location and waiting in line to be attended to for online payday loans California. Just visit their website online, follow the step-by-step instruction and submit your application in minutes.
- PaydayLoansOnlineSND will help you remove the hassle from the application process. Your loan will be sent directly to your preferred checking or savings account with no paperwork required.
- Once you have completed the online loan application, you will get a payday loan decision instantly. Just provide some basic information like a valid email address and a verified bank account on the lenders website. You must be an American citizen or resident to qualify for this loan. You also need to have a stable job and income.
- You are sure of quick access to the money requested. Many California online payday loan providers can send the money to you that same day or latest, by the next working day.
- Your personal information is collected and stored securely. Most lenders in California will use verified encryption software to collect your information so you don’t need to worry about the details you supply remaining secure and safe.
- Online payday loans providers in California will not sell your information to third parties. You won’t get unsolicited phone call and emails bothering you.
- Other benefits for your convenience are that good credit is not a prerequisite for a loan decision and, the entire process is transparent and innovative. Lenders will be more concerned with your ability to repay the loan than your credit score.
- Use the money for any purpose. As long as your intentions are legal, you can use the funds collected from California payday loans online for whatever you decide.
- PaydayLoansOnlineSND will make the process even easier for you. Get in touch with us if you still have any questions regarding payday loans in California online.
What You Should Know About Online Payday Loans in California
Regulations regarding payday loans online in California
Payday loans are legal in California and are governed by California Civil Code 1789.30 as well as the Financial Code 23000. These two laws include all of the relevant regulations for payday loans whether online or store front payday loan providers.
Options for Residents
The state regulations have already determined how much you can borrow and the interest rate lenders can charge you.
Payday loans are also referred to as cash advances. They are always short term and all lenders operating within the limits of California can only operate with a valid state license. PaydayLoansOnlineSND can help connect borrowers with reputable, ethical and professional online payday loan providers that adhere strictly with all stipulated state and federal rules.
If you are looking to apply for a payday loan, a quick search online will turn up a lot of suitable lenders or just check the online yellow pages.
Lending Rules for Online Payday Loans California
- Maximum loan amount allowed is $300.
- There is no minimum length for payday loans.
- Maximum duration for payday loans is 31 days.
- A written legal contract detailing loan conditions is required. The contract will contain information such as the loan amount, all terms and conditions, agreed interest rates and finance/service charges.
- Lenders can’t charge more than 15% per week for payday loans. If for example, you request for $300 and the online lender applies the maximum 15% allowed, you will get $255, as the balance of $45 will count for the deferred deposit transaction fees.
- Annual Percentage Rate (APR). The APR for a 14 day loan up to $100 for example, will be 459% maximum.
Payday Debt Limits
Some debt limits exist for California online payday loans, mainly to help borrowers manage their loans better.
- Maximum loan amount permitted from a single lender is $300, a consumer cannot collect more than one loan at a time.
- There is no provision for rolling over loans, in fact, it is strictly prohibited in California. You must pay your loan in full before applying for another. As such, it is illegal to facilitate payday loan rollover and charge rollover fees.
- Borrowers may not take a payday loan from one provider to repay another loan.
The Collection Restrictions
In the unfortunate instance that you are unable to pay back your online payday loan in California or, repayment bounces, the following restrictions exist on the lender:
- If a check is returned due to insufficient funds in the lenders account, the online lender is not permitted d to initiate any criminal proceedings against the borrower.
- A maximum non-sufficient fund fee of $15 will be applied for returned check.
Regulations monitoring online payday loans differ from state to state so knowing what applies in your case can help you make the right decisions. PaydayLoansOnlineSND can help you accept a payday loan from online lenders that abide by the laws of California.
Payday loans are a useful resource to ease financial pressure when emergencies occur. It’s important to thoroughly consider all terms and conditions, and understand everything before entering into an agreement with an online payday loans provider in California and that’s where PaydayLoansOnlineSND come in.
We can assist borrowers compare several options in a neutral manner allowing the final decision to rest with you, the borrower.